The Many Misconceptions of a Generation

Of all the misguided assumptions made by young Americans, none are more prevalent than the claim that Generation-X will not do as well as their parents and grandparents. There seems to be a very misguided pessimism radiating from people within the age group of 25-35 years old. But the numbers and the largely visible societial evidence does not bear the claims out. With all of the robust economic advancements made from the time the Gen-X'ers were born to now, how is it that they think that they will be worse off than their parents or their grandparents, whose formidable years were during the Great Depression and World War II?

First, let us begin with the facts about the Gen-X'ers. Tom Van Riper, writing for Forbes magazine, has given us a great piece dealing with this very same topic. (The link is here: http://www.msnbc.msn.com/id/15305043/) He was prompted by the recent move by the American population over 300 million and decided to take a look at the economic wealth when the nation's population breached 200 million. He begins by saying that the median income for Americans today is $46,326, well above what it was back in the mid-60's. But it is the numbers detailing the net worth of families today as compared to yesterday that is most striking. "The typical American household has a net worth of $465,970, up 83 percent from 1965, 60 percent from 1985 and 35 percent from 1995." So you see, just in a decade the "average" American is better off today.

With all of this prosperity, how is it that the young adults in the corporate world do not feel that they are better off. In this day and age, there are technological advancements that were far from the imagination of the "Greatest Generation". There is no global economic upheaval creating massive unemployment. There is no shortage of food--in fact, the big scourge of the day is obesity. There is no threat from Soviet Communism. The lack of hardship for Generation-X has prompted a massive search for hardship giving birth to things like ADD, ADHD and a whole host of other conditions that have been used as an excuse for shortcomings. And it is this that gives rise to the thought that the current crop of young Americans are worse off than their forebearers. There is a search for something extraordinary for this generation to overcome, yet there is no extraordinary event needing to be vanquished.

There is the War of Terror, but this war is reminiscent of the Cold War and not World War II. The current conflict is a clandestine one which only reaches to maybe ten percent of the entire population. There is no need for a massive buildup or rationing of resources because the generations before now have made it so that there is no real need to. The other factor--touched on by Van Riper--is the need to measure each other based on material possessions. The thought that you are not where you thought you would be five years ago and at the same time the assumption that your peers are vastly ahead of you in terms of success. These are great portions of human nature, but they are also pernicious when not kept in check by humility.

Generation-X is the richest, healthiest and most technologically advanced gerneration ever in the history of man, yet they look at themselves as barbarians with very little hope to do great things. It is not that they are not better off than their parents or grandparents, rather; it is that they were so well set up by their parents and grandparents that they did not really have anything left to do other than to turn inward and look for ways to self destruct so as to rebuild themselves and say, "Look at what great thing I have accomplished."